It has come to the attention of the Institute that some Financial Institutions are dictating and imposing restrictions on their clients regarding the kind of audited financial statements that those clients should provide to be considered as valid. Further, the Institute has noted concerns from its members and various stakeholders that some of the Financial Institutions only recognize financial statements that are audited by one of the ‘big four’ audit firms which, they deem, to be the only valid and acceptable audit reports
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